We are in a new real estate economy. The consumer now controls the process and wants s higher standard of service which the real estate industry has not yet proven it can provide.
There is a generational disconnect between the average Realtor (53 years old) and the average buyer (31). The real estate industry needs to get younger. The question is how do you attract a new generation of Realtors when the traditional model is broken?
I believe that there is exceptional talent that would consider our industry if there was a base salary to work from. This is now an option for companies that have lead generation, training and support.
What is your view?
There's a world of difference between age and attitude. The real estate industry doesn't need to get younger in age, just in attitude. I have worked with thousands of Realtors from all over the country, and while a few want to do well, most want to do what's needed and not much more.
And whether a base salary will attract younger people into the industry is a moot point right now, as I can't imagine any company getting that radical in this economy.
I think generally this is happening to most business with direct sales model. It's so difficult to get younger employees to go on full commission. From the part of the world I am from, those who are willing to go on full commission that I encountered mostly are usually those in their late 40s retired, retrenched and doing it on part time basis.
Family/peer pressure as well as up-bringing could be the source of the issue. Parents of the X or later generation tends to cultivates "get a degree and find a stable job" mentality. So somehow or another the younger generation tends to be more reserve in getting a full commission job.
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